08 February, 2021
Working Group Update 2/8/2021
08 February, 2021
- FIF Tech Specs Working Group. The CAT Tech Specs Working Group reviewed updated FAQs issued by FINRA CAT relating to reporting MENO, MEOA and MEOT events for NAV trades, CND and CMC handlingInstructions, and reporting senderType and destinationType values of ‘O’. The Working Group reviewed FIF Member comments and questions for FINRA CAT relating to mass cancellations, reporting for GTX, DAY and IOC orders, handlingInstructions for algo orders and Order Route events, and Route Modifications for retail orders. The Working Group discussed the reporting for unsolicited cancels and modifications and reviewed FIF Member responses on this issue to be submitted to FINRA CAT. The Working Group reviewed and discussed a workflow diagram prepared by an FIFM Member relating to the reporting of route modifications and cancels for Phase 2d. The Working Group discussed upcoming new allocationType values to denote that a firm is reporting an Allocation Event in a foreign equity for which order events might or might not have been reported. The Working Group reviewed and discussed the February 2 FINRA CAT Industry Checkpoint call. On February 3, FIF submitted Member comments and questions to FINRA CAT.
- FIF CAT CAIS Working Group. The Working Group reviewed the January 29, 2021 revisions to the CAT CAIS Technical Specifications document, including changes relating to the following fields: accountType, customerType, LTID and ULTID format, role and hasDiscretion. The Working Group discussed next steps relating to these changes. The Working Group reviewed the open items list submitted by FIF on January 20, 2021 and discussed next steps. The Working Group discussed issues and questions raised by FIF members relating to the reporting of FDIDs by introducing brokers in a Relationship or Entity FDID scenario and identifying the time an account is opened to determine the CAT reporting deadline.
- FIF TRACE Working Group. The TRACE Working Group reviewed and edited a draft comment letter to FINRA in response to FINRA’s request for comment on Enhancements to TRACE Reporting for U.S. Treasury Securities.
Eduard Kotlyar